We wish to inform that the Board of Directors at its meeting held on March 29, 2026, inter alia considered and approved the execution of: (i) Merger Implementation Agreement by and amongst the Company, Indovida India Private Limited and Indorama Netherlands B.V.; (ii) Shareholders'' Agreement by and amongst the Company, Epsilon Bidco Pte. Ltd. and Indorama Netherlands B.V.; and (iii) Transition Services Agreement by and amongst the Company, Indorama Netherlands B.V. and Indorama Ventures Global Services Limited.

EPL Limited's board has approved a scheme of amalgamation to merge Indovida India Private Limited into EPL Limited by absorption, alongside three related agreements (Merger Implementation Agreement, Shareholders' Agreement, and Transition Services Agreement) with Indorama Netherlands B.V. and Epsilon Bidco Pte. Ltd. Indovida India, which is 99.99% owned by Indorama Netherlands (IVL), manufactures packaging products and had turnover of INR 3,809 Cr and net worth of INR 6,459 Cr as of Dec 31, 2025, compared to EPL's turnover of INR 4,568 Cr and net worth of INR 1,717 Cr. The share exchange ratio is 286 EPL shares (face value INR 2) for every 10,000 Indovida India shares (face value INR 10), based on valuations by BDO and D&P India and a fairness opinion from Ernst & Young. As a result, promoter group shareholding in EPL will jump from 25.97% to 68.37%, with public holding falling from 74.03% to 31.63%, and IVL will be reclassified as a promoter post-merger. The transaction is subject to NCLT, SEBI, stock exchange, and CCI approvals.